Trump might get his slowdown in rate hikes, but for the wrong reason
Among the unintended consequences from President Donald Trump’s trade war is that it could cause the Federal Reserve to slow the pace of its interest rate hikes. While Trump has spoken out against the central bank’s policy tightening and...
Cryptocurrency investor robbed via his cellphone sues AT&T for $224 million over loss
A U.S. investor filed a $224 million lawsuit against AT&T Wednesday accusing the telecommunications giant of negligence that allegedly caused the California resident to lose roughly $24 million in cryptocurrency. In a 69-page complaint filed with the U.S. District Court...
US industrial output rises modestly, powered by factories
U.S. industrial production edged higher in July, boosted by higher manufacturing output in a positive sign for economic growth. The Federal Reserve said on Wednesday industrial production rose 0.1 percent last month after an upwardly revised 1.0 percent increase in...
US retail sales increase strongly in July
U.S. retail sales rose more than expected in July as households boosted purchases of motor vehicles and clothing, suggesting the economy remained strong early in the third quarter. The Commerce Department said on Wednesday retail sales increased 0.5 percent last...
Trump trade war with China leads to ‘off the charts’ rush of imports at nation’s busiest port
The escalating trade war with China is leading U.S. retailers to speed up the import of goods from Asia’s largest economy to avoid new tariffs and ensure they have adequate supplies for the winter holidays. Executives say nervous importers pushed...
Weekly mortgage applications drop as homebuyers drop out
A small drop in mortgage interest rates was not enough to make pricey properties more enticing last week. Mortgage application volume fell 2 percent for the week, according to the Mortgage Bankers Association’s seasonally adjusted report. Volume was 19 percent...
Small-business confidence is back at record high under Trump: CNBC/SurveyMonkey
Bolstered by a strong economy, small-business confidence is continuing to climb to record levels, even in the face of a potential trade war and an increasingly tight job market. In a deregulatory environment, jobs and the economy have become the...
Turkey slaps tariffs on American booze, cars as business groups urge diplomacy
Turkey’s government announced tariffs on American cars, alcohol and cigarettes on Tuesday, ramping up what has become a bitter dispute between the two NATO allies. According to local press, the move doubles tariffs on a number of U.S. products, raising...
Y Combinator to set up China arm with former Baidu executive Qi Lu as chief
American start-up incubator Y Combinator is setting up shop in China, with a new unit to be led by former Baidu chief operating officer Qi Lu. Sam Altman, Y Combinator’s president, said in a company announcement Wednesday that China had...
Chinese oil importers shun US crude despite tariff reversal
Chinese oil importers are shying away from buying U.S. crude as they fear Beijing’s decision to exclude the commodity from its tariff list in a trade dispute between the world’s biggest economies may only be temporary. Not a single tanker...
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